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IMF Country Report No. 22/127

BRUNEI DARUSSALAM

REPORT ON EXTERNAL SECTOR STATISTICS MISSION (REMOTE) (JULY 26–29, 2020)

April 2022

This paper on Brunei Darussalam was prepared by a staff team of the International Monetary Fund. It is based on the information available at the time it was completed on April 2021.

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Title Page

Brunei Darussalam

Report on External Sector Statistics Mission (July 26–29, 2020)

APRIL 2021

Prepared by Antonio Galicia-Escotto, Evrim Bese-Goksu, and Fadhila Alfaraj

The contents of this report constitute technical advice provided by the staff of the International Monetary Fund (IMF) to the authorities of Brunei Darussalam (the “TA recipient”) in response to their request for technical assistance. This report (in whole or in part) or summaries thereof may be disclosed by the IMF to IMF Executive Directors and members of their staff, as well as to other agencies or instrumentalities of the TA recipient, and upon their request, to World Bank staff, and other technical assistance providers and donors with legitimate unless the TA recipient specifically objects to such disclosure (see Operational Guidelines for the Dissemination of Technical Assistance Information). Publication or Disclosure of this report (in whole or in part) or summaries thereof to parties outside the IMF other than agencies or instrumentalities of the TA recipient, World Bank staff, other technical assistance providers and donors with legitimate interest, shall require the explicit consent of the TA recipient and the IMF’s Statistics Department.

Contents

  • Glossary

  • SUMMARY OF MISSION OUTCOMES AND PRIORITY RECOMMENDATIONS

  • DETAILED TECHNICAL ASSESSMENT AND RECOMMENDATIONS

  • A. Action Plan

  • B. Introduction

  • C. Balance of Payments Statistics

  • D. Goods

  • E. Services

  • F. Primary Income

  • G. Secondary Income

  • H. Direct Investment

  • I. Portfolio Investment

  • J. Financial Derivatives

  • K. Other Investment

  • L. Reserve Assets

  • M. Officials Met During the Mission

  • FIGURES

  • 1. Oil Trade Flows

  • 2. Inward and Outward DI Derived from CDIS Mirror Data Position

  • TABLES

  • 1. Priority Recommendations

  • 2. Direct Investment

  • APPENDICES

  • I. High-Value Capital Goods

  • II. Collection of Personal Transfers

  • III. Goods—Merchanting and Re-Exports

  • IV. Financial Derivatives—Collection and Compilation Forms for the Elaboration of ESS

  • V. Example of a Financial Derivative Compilation Applied to Brunei Darussalam

  • VI. Importance and Use of International Investment Position Statistics

Glossary

AITI

Authority for Info-communications Technology Industry AMBD Autoriti Monetari Brunei Darussalam

BIA

Brunei Investment Agency

BGC

Brunei Gas Carrier

BIBD

Bank Islam Brunei Darussalam

BIS

Bank for International Settlements

BLNG

Brunei Liquid Natural Gas Carrier

BMC

Brunei Methanol Corporation

BPM6

Balance of Payments and International Investment Position Manual, sixth edition

BMT

Brunei Methanol Tanker

BSP

Brunei Shell Petroleum

BST

Brunei Shell Tankers

CIF

Cost, insurance and freight

DOS

Department of Statistics

FDI

Foreign direct investment

Fob

Free on board

GLCs

Government linked companies

HES

Household Expenditure Survey

IIP

International Investment Position

IMF

International Monetary Fund

IMTS

International Merchandise Trade Statistics

JPES

Department of Economic Planning and Statistics LNG Liquid Natural Gas

MOFE

Ministry of Finance and Economy MFA Ministry of Foreign Affairs

n.i.e.

Not included elsewhere

OECD

Organisation for Economic Cooperation and Development RCED Royal Customs and Excise Department

SPV

Special Purpose Vehicle

SDRs

Special Drawing Rights

TAP

Employee Trust Fund

Brunei Darussalam: Report on External Sector Statistics Mission (Remote) (July 26-29, 2020)
Author: International Monetary Fund. Statistics Dept.